Margeret Heffernan has a really good TED talk on this topic [0]
"Social capital is what gives companies momentum. And social capital is what makes companies robust. It means that time is everything because social capital compounds with time. So teams that work together longer get better because it takes time to build the trust you need for openness and candor. And it’s time that builds better value."
Really good talk.
Brian Chesky of Airbnb also talks about this as "culture" [1]:
"Why is culture so important to a business? Here is a simple way to frame it. The stronger the culture, the less corporate process a company needs. When the culture is strong, you can trust everyone to do the right thing. People can be independent and autonomous. They can be entrepreneurial. And if we have a company that is entrepreneurial in spirit, we will be able to take our next “(wo)man on the moon” leap. Ever notice how families or tribes don’t require much process? That is because there is such a strong trust and culture that it supersedes any process. In organizations (or even in a society) where culture is weak, you need an abundance of heavy, precise rules and processes."
When you have strong "social capital" or "culture", there's less management overhead, but it's very hard to come by and requires time (or hiring the right people).
CharlieDigital|3 years ago
Brian Chesky of Airbnb also talks about this as "culture" [1]:
When you have strong "social capital" or "culture", there's less management overhead, but it's very hard to come by and requires time (or hiring the right people).[0] https://www.npr.org/2015/10/02/443412777/is-the-professional...
[1] https://medium.com/@bchesky/dont-fuck-up-the-culture-597cde9...